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Fw: My Maricopa: June 12 is here! Let's celebrate the Library's 1stanniversary, bring your ideas to the Town Hall and take in a movie at thepark!
From: City of Maricopa <press@maricopa-az.gov>
Date: Fri, 11 Jun 2010 21:20:45 -0400 (EDT)
To: <x325ix@gmail.com>
Subject: My Maricopa: June 12 is here! Let's celebrate the Library's 1st anniversary, bring your ideas to the Town Hall and take in a movie at the park!
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Yard Waste and Bulk Trash Disposal Event.
The City of Maricopa, the Recycling Association of Maricopa and Waste Management presents Copa Cares Yard Waste and Bulk Trash Disposal Event, May 15 and 16 from 8 a.m. to 6 p.m. The event will be held at the Maricopa Recycling Center, 46250 W. McDavid Road. For additional information, please call the Code Compliance Office at 520/494.2393 or RAM at 520/568.9428.
Bees in Pacana Park.
Two bee hives have been removed from Pacana Park; one on the south end of the north soccer field and another inside a valve box on the west expansion field. We want you to be aware of these locations as bees often return to areas where previous hives were built and they will attack if you near them. Both locations have been barricaded for easy identification. If you have small children, please be particularly aware of this situation.
Guess Who’s Turning 1: the Maricopa Public Library!
The Maricopa Public Library will celebrate its first anniversary on June 12. Come join the fun from 11 a.m. to 3 p.m. There will be free face painting, prize drawings, special guest story tellers, movies, refreshments, free library items and more. We will also have the grand opening of the new and improved Children’s Area. Don’t miss the fun.
Join Us for Movies in the Park.
Making plans for next weekend? Grab a blanket or a lawn chair and join us at Pacana Park for the 2010 Movies in the Park Series. The movie begins at dusk. Concessions are available for a fee and sales begin at 7 p.m. Coming soon:
o May 15 - Monsters vs. Aliens
o June 12 - The Blindside
o June 26 - Little Giants
Let’s watch the stars under the stars at Movies in the Park.
Pacana Park scheduled for maintenance.
Pacana Park will be scheduled for maintenance during the following times for turf fertilization:
o Ballfield Two: May 3-9
o North Soccer Field: May 17-22
Please observe these maintenance dates for each specific park for proper turf management. If you would like additional information, please contact Brenda Campbell at 520/316.6963.
6 Surprising Facts About the Buyer Tax Credit
The homebuyer tax credit is not as simple or straightforward as you might think. Here are some nuances that will affect homebuyers who plan to use it.
* To qualify for the move-up tax credit, a home owner must have occupied the same principal residence for five of the last eight years consecutively.
* Buyers can elect to claim the credit on either their 2009 or their 2010 tax return, whichever is best for them.
* Buyers who claim the credit in 2009 can’t file electronically because the Internal Revenue Service hasn’t put the required forms on line. The wait for a refund is three or four months.
* The home can be a mobile home or travel trailer that is fixed to land owned or leased by the home owner. A mobile home or travel trailer that is actually mobile doesn’t qualify.
* The home can’t be purchased from a close relative, including a parent, spouse, child, grandparent or grandchild.
* A buyer who earns no taxable income or doesn’t owe any federal income tax can qualify for the tax credit and file a tax return just to claim it.
Source: Bankrate.com, Marcie Geffner (01/21/2010)
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Region: Maricopa County
The Age of the Short Sale
By Mike Orr
The impact of lender-owned homes reached a peak in the winter season 2008-2009. While these were available in large quantities and at falling prices, buyer interest was focused almost entirely on them. Supply was sufficient to keep REO prices declining until early April 2009. After the second quarter of 2009, REOs became much harder to find, and as competition for them grew fierce, short sales have become more important. Given the large number of homes still in distress and the banks’ desire to avoid foreclosure if possible, we expect short sales to become the most important segment in the market over the next few years.
In October 2009, short sales and pre-foreclosures constituted about 39% of the active listings on the Arizona Multiple Listing Service (ARMLS), with normal sales at 48% and lender-owned properties at 13%. Short sales and pre-foreclosures constituted about 50% of the listings under contract on ARMLS, with normal sales at 20% and lender-owned properties at 30%. Lender-owned properties are declining in market share, and normal sales are stable while short sales and pre-foreclosures are increasing.
The demand for short sale properties is now strong, particularly for the more affordable homes. However, a large proportion of the listings are still failing to close in a timely fashion. For example, the monthly sales rate for September was only 1,458 - less than 16% of the listings under contract. However patience is eventually paying off for a lot of buyers since the listing success rate has improved dramatically over last year. The success rate for short sales improved from about 15% in January to over 50% in October, just below that for normal sales, though far less than for lender-owned properties.
The growth in short sales has been most dramatic in the price ranges up to $200,000. The most important range in dollar volume terms is that between $100,000 and $200,000, with a trebling of monthly volume between January and September and a monthly dollar value now over $90,000,000. The price range below $100,000 has also shown dramatic growth although this is of much less significance in total dollars spent. Although the more expensive sectors have relatively low unit sales, when measured in dollar volume, they also show very significant growth in short sales.
When we analyze the 48,000 residential properties in Maricopa County that have received a Notice of Trustee Sale, we find that fewer than 1 in 5 are listed on ARMLS. Given that we are now seeing considerable success among the short sales, it is a little surprising that so few owners attempt a short sale. We anticipate that this percentage will increase over the coming year, as more homeowners understand the benefits compared with foreclosure. We believe that many lenders will postpone a trustee sale if there is any sign of a short sale taking place, so homeowners should not be deterred by the belief that they don’t have enough time within the 90-day notice period.
In Maricopa County, 47% of the short sales and pre-foreclosures listed on ARMLS have not yet received a Notice of Trustee Sale. So a large number of homeowners are clearly attempting a short sale long before they receive a notice, which seems like a sensible strategy. As lenders appear to be getting more flexible in their consideration of what constitutes hardship, it seems likely that more of these short sale listings will achieve success as long as the pricing is not too low to be acceptable to the lender.
Greater Phoenix suffered a very significant price decline between May 2006 and April 2009, so many homeowners who wish to sell their home and have a deed of trust on their property are going to find themselves in a short sale situation for the foreseeable future. Fortunately, lenders are now devoting more effort and resources to short sales, and many REALTORS® are learning the tools and techniques to bring them to a successful conclusion.
As properties get purchased by new buyers at the new lower prices and prices stabilize and then increase, we will eventually see a peak in short sales and a long slow decline in their importance. However, that peak is still ahead of us, and the next several years are likely to be remembered as the “Age of the Short Sale.”
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Mike Orr holds a masters degree in mathematics from the University of Oxford. After 31 years in the computer industry, he moved to Arizona in 2002 to focus on real estate investment. Mike obtained a real estate license in 2005 and has been working on real estate market analysis full time since 2006. The results of his analysis are published each day in the Cromford Report–an online resource for professionals focused on the greater Phoenix residential resale market.
New blogpost :http://livinginmaricopacity.blogspot.com/
Interesting article from by Catherine Reagor - from The Arizona Republic.
What you dont know will definitely hurt you when it comes to real estate. Always use a trusted Realtor when it comes to real estate.
Illegal housing bidding on rise
The Arizona Corporation Commission will be in Maricopa on Tuesday, December 1, 2009 to hold a public comment meeting on a request for a rate increase by Global Water. The
Commissioners will begin with opening remarks and then devote the meeting to residents who wish to comment on the impact of the company's request and the quality and reliability of service the company provides.
The meeting begins at 6:30 PM and will be held at Maricopa Wells Middle School cafeteria, 45725 W. Honeycutt Ave.
Tax Credit for Homebuyers
First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
What are the New Deadlines?
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Tax Credit Versus Tax Deduction
It’s important to remember that the tax credit is just that… a tax credit. The benefit of a tax credit is that it’s a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.
Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!
Higher Income Caps
The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sale price of $800,000.
Homebuyer Tax Credit Update!
On November 6, 2009, President Obama signed a bill to extend the tax credit for first-time homebuyers (FTHBs) through June 30, 2010. The bill also opens up opportunities for others who are not buying a home for the first time. To learn what the new tax credit means to you and your clients, take a look at the concise overview below.
Here are Tax Incentives to Spur Energy Savings and Green Jobs
This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.
Landmark Energy Savings
This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.
Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing
This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs. Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.
Expanding Housing Assistance
This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.
Paris Hilton’s Chihuahuas – Tinkerbell, Marilyn Monroe, Prince Baby Bear, Harajuki, Dolce, and Prada – have closed on new digs, reports Life & Style magazine. The property in Hollywood is a $325,000, 300-square-foot canine palace complete with a balcony, a backyard, living room furniture, and a chandelier – plus central air.
“It’s a miniature version of my house,” says Hilton. “I designed it with the help of my interior decorator, Faye Resnick. I wanted it to be fun, cute, comfortable and beautiful. My friends just love it and think it’s so adorable and cool.”
Source: Life & Style (08/05/2009)
/www.realtor.org/
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